Valmet Automotive Aims to Grow

GENEVA, Switzerland, 4 March, 2009 - Enlarged portfolio of services, new
vehicle and manufacturing technology and global presence are the key
contributors to Valmet Automotive’s growth in the coming years. Mr.
Ilpo Korhonen, President of Valmet Automotive, presented the
company’s new strategy in a press conference at Geneva Motor Show, on
the 4th of March.

“The change of automotive customer needs was anticipated and we
re-thought our strategy already before the current financial crises
started”, said Mr. Korhonen.

“We have undergone fundamental changes especially in the way of
approaching new business. In addition to our main facilities in Finland, we
are currently represented in Germany, the US, Japan and South Korea. We
have established a full range of engineering services and continue to
reinforce them.”

The production of some 1,1 million high-quality cars to the worldwide
markets creates a strong basis for new manufacturing projects as well as
for manufacturing oriented product and process engineering services.

Manufacturing: Valmet Automotive’s production quality is
recognized as one of the best in the world. Thanks to the multi-skilled
personnel and flexible organization also the manufacturing of small
quantities can be carried out efficiently and with high quality.

Engineering services include product and manufacturing engineering. The
core competences are in BIW, especially lightweight, as well as convertible
technologies. Valmet Automotive is recognized for rapid production
launches.

Total programs. Valmet Automotive can provide its customers with a total
program from product development to manufacturing and handle also supplier
management and logistics.

“This very competitive business segment of automotive contract
manufactures has changed very much recently. Only the market players, with
an international and environmental orientation, a healthy financial
background, a track record of continuously high quality production output
and a business model with focus on engineering services have made it up to
day and will be geared up for the future. Valmet Automotive will be one of
them”, Mr. Korhonen said.

“We have already evidence of the successful implementation of the
new strategy. Even in the currently challenging economic situation, we have
been able to fill our books with new orders: a new hybrid car, a new
electric golf car and new engineering projects.

Two new vehicles into production in 2009

This year Valmet Automotive will start manufacturing to completely new
vehicles. The highly innovative Fisker Karma Plug-In Hybrid vehicle will
not only be produced by Valmet Automotive, but Valmet Automotive is also an
engineering partner to Fisker Automotive.

The partnership with Fisker Automotive is largely benefiting both
companies. Fisker Automotive can rely on absolute premium manufacturing
quality - and Valmet Automotive will -as one of the 1st in the automotive
industry - enlarge its experience in the most future oriented
development.

Valmet Automotive has also concluded an engineering and manufacturing
partnership with Danish Garia A/S for electric luxury Golf cars.

Design, chassis construction and materials of Garia golf car are derived
from the latest trends in automotive industry. It is planned to produce
some thousand of these high end golf cars a year starting in the 3rd
quarter 2009 on a separate body and assembly line.

“This underlines Valmet Automotive’s endeavor for creativity
and flexibility. We are not afraid to try for new ways to respond to
customer needs”, Mr. Korhonen said.

Renewed Porsche Boxster and Cayman in production

In autumn 2008 the renewed Porsche Boxster and Cayman were launched into
production after an intensive period of simultaneous and manufacturing
engineering. Since 1997 over 200,000 Boxster and Cayman sports cars have
been manufactured in Finland.

Valmet Automotive was founded in 1968 as joint venture between
Saab-Scania and Valmet. The company has produced some 1,1 Million cars that
belong mainly to the premium segment from Saab-models to Porsche sports
cars. One third of the cars have been open cars. World-class manufacturing
has been supported by tailored engineering services.